What does a payment network do?
Your payment network works behind-the-scenes whenever you process a payment on your EFTPOS terminal to shift funds from your customer’s account to your acquiring bank.
What networks are there to choose from?
There are two Payment Networks to choose from in New Zealand: The Verifone Network and the Paymark Network.
We are the only EFTPOS provider in New Zealand with our own payment network. Leveraging the latest in payment network technology, we’ve built a fast, secure and reliable network with the capacity to process over 600 transactions per second. Our network currently processes between 1.1 and 1.9 million transactions every day.
The benefit for you is that you only have to access one helpdesk with one easy-to-remember phone number for support for your EFTPOS device and payment network. Plus, our network is built to ensure 100% uptime thanks to our active-active approach. We maintain two geographically diverse data centres. Your terminal will determine the availability of the data centre it is processing to and dynamically switch to the other active data centre if an issue is detected.
As a Paymark Accredited Reseller, we can also connect our Verifone devices to the Paymark network.
What’s the difference?
The software for terminals connected to the Paymark network and the Verifone network is different, which means the way the screens look on EFTPOS terminals is different. There are also differences between what functionality is available for your terminal depending on which network you are connected to, and also which bank you have your merchant services with.
Our network is fully compliant with Payment Card Industry (PCI) Data Security Standards. The network utilises industry-leading hardware-based security products to assure end-to-end protection for every transaction you process. We guarantee the compliance of your EFTPOS terminal and software connected to our payment network for the length of your contract. If you need to update your device or software to stay compliant, we’ll upgrade you for free. Learn more about compliance here.